Talking about money – Workshop on Climate Change Finance in India
This is a decisive year for the negotiations around climate action. In December 2015, the United Nations Framework Convention on Climate Change (UNFCCC) meeting in Paris will discuss key issues around climate change adaptation, mitigation of greenhouse gases, knowledge and technology transfer, as well as the allocation of finance for the post-2020 climate regime. India has a key stake in this, and is in the process of developing concepts and building institutional capacity in order to access international support for climate-related measures.
On 23 April 2015, GIZ, together with the Department of Economic Affairs, Ministry of Finance, conducted a half-day workshop on ‘Climate Change Finance in India’. Panelists of the high-level event included, amongst others, Shri Jayant Sinha (Hon’ble Minister of State for Finance), Dr. Arvind Subramanian (Chief Economic Adviser, Department of Economic Affairs, Ministry of Finance), Shri Susheel Kumar (Additional Secretary, Ministry of Environment, Forest and Climate Change) and Georg Klussmann (Counsellor at the German Embassy New Delhi). Representatives from India’s apex rural development bank National Bank for Agriculture and Rural Development (NABARD), Confederation of Indian Industry (CII) and the research community were also part of the distinguished panel.
During three interactive sessions, panelists assessed the requirements of the institutional set-up for accessing international climate finance, explored recent initiatives on climate finance in India, as well as the potential to expand those and finally looked ahead into the finance implications of the post-2020 global climate change framework for action.
Key discussion points noted the need for a pipeline of initiatives that can be scaled up, a required rethinking from ‘projects to programmes’, the difficulty to mainstream climate change into development programmes, and the potential of Indian-led innovations for Indian manufacturing. Panelists raised critical questions around the type and additionality of financial assistance to be expected, or the obligations accompanying the Intended Nationally Determined Contributions (INDCs). At the same time, emphasis was put on existing experiences from the Adaptation Fund and the National Clean Energy Fund, as well as the processes around the Fast-Track Accreditation of NABARD as National Implementing Entity of the Green Climate Fund.
GIZ presented the corner stones of the bilateral cooperation project on the development and management of Nationally Appropriate Mitigation Actions (NAMAs) in India, while showcasing the importance of climate finance instruments in implementing NAMAs. Another GIZ presentation highlighted key findings from a recently conducted study on the role of the private sector in scaling up climate finance in India. The event was well attended and produced substantial media output.
For information on the NAMA project, please visit http://www.giz.de/en/worldwide/29663.html
You can access the mentioned report on the role of the private sector in scaling up climate finance in India here : https://www.giz.de/en/downloads/giz2015-en-nama-india-private-financial-institutions-climate-finance-finalreport.pdf.
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